Lynx, a Madrid-based firm using AI to detect and prevent fraud and financial crimes, has raised $8 million in Series A funding.
In brief:
-The round was led by Forgepoint Capital, with the participation of existing shareholders and client Banco Santander.
-Its technology is used by financial institutions including Santander and Brazil's Cielo and can help prevent fraud for cards, digital banking, e-commerce, branches and ATMs
-Created 20 years ago by Carlos Santa Cruz, Lynx applies advanced AI and machine learning to prevent digital fraud and combat money laundering
What does this mean?
The investment will fund Lynx’s global expansion and further the development of the company’s integrated fraud and AML platform.
